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Capital One Student Cards have new welcome offers, letting you earn up to $100 quickly
Capital One is upping the game with welcome offers and benefits for new student cardholders.
The offer mentioned below is no longer available.
Capital One has been making significant upgrades to its credit card perks in the last year or so, and now, for a limited time, current students have the opportunity to earn a simple welcome offer when they sign up for either the Capital One SavorOne Student Cash Rewards Card or the Capital One Quicksilver Student Cash Rewards Credit Card.
Student credit cards don't typically come with welcome offers, so it's a great way for students to not only build their credit but also save money on everyday purchases, all while scoring an easy bonus.
Below, Select breaks down the two welcome bonuses, as well as each card's unique features and how students can use them to their fullest potential.
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Capital One's latest student card welcome bonuses
Each of the two student credit cards below is currently offering a limited, one-time welcome bonus of $100 after new cardholders are approved and spend $100 within the first three months of opening an account.
The $100 welcome bonus can be used in several different ways — as a statement credit on the account, to pay for purchases via PayPal or Amazon or to buy gift cards.
In addition, student cardholders, like all Capital One cardholders, now have access to the Capital One Travel portal to book travel using credit card rewards. Booking travel through the portal with a Capital One Student Credit Card can also earn cardholders unlimited 5% cash back on all hotel and rental car bookings.
If you have friends interested in either one of the student cards, Capital One's refer-a-friend program lets you receive $100 for each successful referral, up to $500 per year.
Here's a breakdown of the benefits you'll receive from each card.
Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne Student Credit Card is a great choice for students who tend to spend on specific categories. As you spend, you will earn:
- 3% cash back for all dining and entertainment spending, when you pay for popular streaming services and when you shop at grocery stores
- 1% cash back for all other types of purchases
- 5% cash back when you book hotels and rental cars through Capital One Travel
The card also comes with other solid features such as access to special reservations and culinary events through Capital One Dining, discounts through Capital One Shopping, travel accident insurance, extended warranty protection, complimentary concierge services and 24-hour travel assistance, among others.
The SavorOne Student Credit Card has no annual fee and there are no foreign transaction fees. Cardholders also receive access to CreditWise to help monitor their credit score.
Capital One Quicksilver Student Cash Rewards Credit Card
If your spending habits tend to vary across different categories or you don't want to hassle with maximizing your cash back, the Capital One Quicksilver Student Credit Card may be a better option.
It's pretty straightforward: As you spend on the card, you'll earn unlimited 1.5% cash back on all purchases. Cardholders can also score 5% cash back whenever hotels and rental cars are booked through the Capital One Travel portal.
As with the SavorOne Student Credit Card, you'll also have access to Capital One benefits such as extended warranty protection, travel accident insurance, complimentary concierge services and 24-hour travel assistance, as well as to Capital One Dining, Shopping, and Travel.
The Quicksilver Student Credit Card also has no annual fee or foreign transaction fees.
How to maximize a student credit card
Student credit cards can be a great way for those just starting out to build up their credit score while enrolled in post-secondary courses. However, these cards are really designed to have for the short-term, as there are plenty of other cash-back and travel rewards credit cards out there with better benefits.
Here are a few more ways to maximize your new student credit card:
- Be responsible with spending and pay off your balance: It can be very easy to overspend and then find yourself unable to pay your full balance. This could lead to interest accruing and credit card debt.
- Ask for a credit line increase: When you apply for a student credit card, you may be given a modest credit line. However, once you've started spending and paying off your balance in full, the card issuer has incentive to give you a higher credit limit. By increasing your credit line and maintaining a low credit utilization ratio, your credit score should increase in tandem.
- If your credit is established, don't restrict yourself to only student cards: Personally, I never had a student credit card because I already had a good credit score going into college. If your credit score is up to par, you may want to consider a no annual fee, cash-back credit card as your first choice.
Student credit cards are continuing to improve as more benefits and features are added, as with Capital One. However, the largest benefit of a student credit card is really the ability to build up your credit score.
Building your credit score while you're enrolled in school, helps set you up to graduate with a score high enough to one day make major purchasing decisions — such as buying a car or purchasing a home — with better interest rates and without needing a cosigner.
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Information about the Capital One cards has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
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